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Blizzard [7]
3 years ago
14

The GDP price index is multiple choice 3 computed for each industry sector. a measure of the price of a specified collection of

goods and services compared to the price of a highly similar collection of goods and services in a reference year. a measure of the price of a specified collection of goods and services compared to the average of the prices of a highly similar collection of goods and services for the last 10 years. a measure of nominal GDP adjusted for inflation. d. Which of the following statements is true
Business
1 answer:
Makovka662 [10]3 years ago
6 0

Answer:

a measure of the price of a specified collection of goods and services compared to the price of a highly similar collection of goods and services in a reference year.

Explanation:

The changes should be measured that made in the goods and services involved in GDP. The GDP price index would be treated as an indicator for inflation that has been determined by comparing the current GDP to the GDP made in the reference year

So it would be measured the particular collection of the goods & services that should be compared with that of the reference year

hence, first option is correct

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On January 1, 2017, Sage Co. enters into a contract to sell a customer a wiring base and shelving unit that sits on the base in
slavikrds [6]

Answer:

<u>January 1, 2017</u>

Debit: Accounts Receivable $2800

Credit: Deferred Revenue[Wiring Base] - $1120

Credit: Deferred Revenue[Shelving Unit] - $1680

Narration: Contract Detail and invoicing of the client.

<u>February 5, 2017</u>

Debit Deferred Revenue[Wiring Base] - $1120

Credit Revenue Account - [Wiring Base] - $1120

Narration: Revenue recognition of Wiring Base delivered to customer

<u>February 25, 2017</u>

Debit Deferred Revenue[Shelving Unit]- $1680

Credit Revenue Account - [Shelving Unit] - $1680

Narration: Revenue recognition of Shelf delivered to customer

<u>February 25, 2017</u>

Debit: Bank - $2800

Credit: Accounts Receivable - $2800

Narration: Payment received in settlement of contract fully delivered

Explanation:

The question is an example of a Performance Contract.

A Performance Contract is an agreement with a customer by a vendor to discharge a service or provide goods that are distinct from each other. The accounting for this obligations will therefore be recorded and recognized separately.

It is also important to note that the services or goods must be separately identifiable and the customer must be able to derive from each goods on individually or jointly.

The rule is to

  1. Recognize the contract and invoice amount with the customer as Deferred Income.
  2. Identify the distinct obligations and services to be provided.
  3. Identify the transaction amount for each service or good.
  4. As each obligation is met, the revenue is finally recognized and transferred from Deferred income.
3 0
3 years ago
Identify a cost driver that may be used to assign each cost pool to each line of snowmobiles. Budgeted Costs Cost Driver Machine
Norma-Jean [14]

Explanation:

The identification of the cost driver is presented below:

This identification is required so that the indirect cost can be allocated according to the each cost pool

Machine setup, indirect materials = Number of setups

Inspections = Number of inspections

Test = Number of test

Insurance, plant = Machine hours or square feet

Engineering design = Engineering Hours

Depreciation, machinery = Machine hours

Machine setup, indirect labor = Number of setups

Property taxes = Machine hours or square feet

Oil, heating = Machine hours or square feet

Electricity, plant lighting = Machine hours or square feet

Engineering prototypes = Engineering Hours

Depreciation, plant = Machine hours or square feet

Electricity, machinery  = Machine hours

Machine maintenance wages = Number of machines or machine hours

7 0
3 years ago
Christie has just started with a travel agency. and she has been offering clientsand prospective clients a range of packaged tou
Marta_Voda [28]

<u>Full question:</u>

Christie has just started with a travel agency. and she has been offering clients and prospective clients a range of packaged tours. She is concerned. because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter. who has been with the agency for several years, is having a great deal of success by working closely with the clients. seeking their ideas. and building customized tour packages for each one based on their suggestions.Peter's approach is based on A. transaction-oriented marketing.B. premium C. Vlaue Cocreation D.sales-oriented marketing.

Peter's approach is based on value cocreation.

<h3><u>Explanation:</u></h3>

Value co creation is one of the strategies used in the business. It is a business strategy that helps in creation and promotion of the involvement of the customers actively in creation of on demand and made to order products. By using this strategy they will get the exact product they are in need and they can also involve in understanding how those products are formed.

In the example given, The colleague of Christie, Peter is being working closely with the clients and he offers the services by asking the customer's ideas and their suggestions. Thus the approach followed by Peter is value cocreation.

6 0
3 years ago
On the twentieth day of the month, room sales at the Motor Lodge Motel exceeded its breakeven point for the month. Revenue gener
Firdavs [7]

Answer:

D) increase at a faster rate than the costs associated with those sales.

Explanation:

If the break even point was reached during the 20th day of the month, then any revenue generated during the remaining 10-11 days will increase net profits. The amount of net profit increase will be determined by the contribution margin of each service provided. The contribution margin = net sales - variable costs. Since the fixed costs have already been covered, the contribution margin will be equal to the net profit.

4 0
3 years ago
In a 1960s movie, an heiress sends out thousands of letters to shareholders in an attempt to have them vote for her and for the
Vitek1552 [10]

Answer:

The kind of corporate takeover technique implemented in the film is proxy fight.

Explanation:

A proxy fight is termed as a technique where two corporate factions ask the stakeholders for the proxy votes such that the right of voting is transferred.

In this case both the parties, the heiress as well as the opponent is asking for the right of vote from  stakeholders so that they can decide the corporate future. This is the key feature of the proxy fight and thus this is the correct option.

6 0
3 years ago
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